Scenario 1: Public Registry of an Asset
Date: 2018-10-06
Source: https://craigwright.net/blog/bitcoin-blockchain-tech/scenario-1-public-registry-of-an-asset
In this scenario, Bob decides to publish his ownership of an asset (e.g. his home) onto the Blockchain. Nothing else is done at this stage; it is simply an asset that may then get used in subsequent transactions (such as described in the use of Non-debt Lending).
In this situation, there is no termination date for the contract.
This has a simple state machine model as shown in the diagram below:
